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A Supply Function Competition Model for the Spanish Wholesale Electricity Market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-10)
We model the Spanish wholesale market as a multiplant linear supply function competition model. According to the theory, the larger generators should have supply curves for each plant which are to the left of the supply ...
Market Power in the Spanish Electricity Auction
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005)
We use hourly bid data from the Spanish day-ahead electricity auction to obtain a lower bound measure of generators' market power. Our method is not based on cost estimates but rather on the different behavior of strategic ...